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Appendix D:
Expenses and Employment at the Federal Reserve Banks

Table D.1 Operating Expenses of the Federal Reserve Banks, by District, 2008 and 2009
Thousands of dollars, except as noted
District 2008 (budgeted) 2008 (actual) 2009 (budgeted) Percent change
2008 actual compared with 2008 budgeted 2009 budgeted compared with 2008 actual
Boston 157,796 154,255 153,479 -2.2 -0.5
New York 599,736 613,746 646,993 2.3 5.4
Philadelphia 157,028 157,418 152,724 0.2 -3.0
Cleveland 218,332 214,317 171,007 -1.8 -20.2
Richmond 245,270 237,070 283,005 -3.3 19.4
Atlanta 355,650 354,951 387,155 -0.2 9.1
Chicago 277,736 264,647 274,078 -4.7 3.6
St. Louis 227,877 216,098 222,717 -5.2 3.1
Minneapolis 168,218 160,552 154,652 -4.6 -3.7
Kansas City 181,033 175,546 169,232 -3.0 -3.6
Dallas 190,820 193,304 182,399 1.3 -5.6
San Francisco 287,474 278,860 288,730 -3.0 3.5
Total 3,066,970 3,020,763 3,086,172 -1.5 2.2

Note: Excludes capital outlays. Includes expenses budgeted by Federal Reserve Information Technology and the Office of Employee Benefits. Components may not sum to totals and may not yield percentages shown because of rounding.

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Table D.2 Employment at the Federal Reserve Banks, by District, and at FRIT and OEB, 2008 and 2009
Average number of personnel
District 2008 (budgeted) 2008 (actual) 2009 (budgeted) Change
2008 actual compared with 2008 budgeted 2009 budgeted compared with 2008 actual
Boston 1,000 959 899 -41 -60
New York 2,764 2,775 2,877 11 102
Philadelphia 1,063 1,022 1,009 -41 -13
Cleveland 1,581 1,516 1,367 -65 -149
Richmond 1,827 1,739 1,638 -88 -101
Atlanta 1,939 1,890 1,776 -49 -114
Chicago 1,457 1,404 1,339 -53 -65
St. Louis 1,074 1,020 964 -54 -56
Minneapolis 1,235 1,178 1,082 -57 -96
Kansas City 1,330 1,323 1,213 -8 -110
Dallas 1,316 1,277 1,235 -39 -42
San Francisco 1,781 1,721 1,686 -60 -35
Total, all Districts 18,366 17,824 17,086 -542 -738
Federal Reserve
  Information
  Technology
  (FRIT)		 844 880 889 36 9
Office of
  Employee
  Benefits (OEB)		 45 43 45 -2 2
Total 19,255 18,747 18,020 -508 -727

Note: The term average number of personnel (ANP) describes levels and changes in employment. ANP is the average number of employees in terms of full-time positions for the period. For instance, a full-time employee who starts work on July 1 counts as 0.5 ANP for that calendar year; two half-time employees who start on January 1 count as 1 ANP. Components may not sum to totals and may not yield variances shown because of rounding.

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Table D.3 Operating Expenses of the Federal Reserve Banks, FRIT, and OEB, by Operational Area, 2008 and 2009
Thousands of dollars, except as noted
Operational area 2008
(budgeted)		 2008
(actual)		 2009
(budgeted)		 Percent change
2008 actual compared with 2008 budgeted 2009 budgeted compared with 2008 actual
Monetary and economic policy 390,209 389,219 433,013 -0.3 11.3
Services to the U.S.
  Treasury and other
  government agencies		 449,530 440,669 442,978 -2.0 0.5
Services to financial
  institutions and the
  public		 775,855 758,595 837,378 -2.2 10.4
Supervision and regulation 640,450 642,238 714,224 0.3 11.2
Fee-based services to
  financial institutions		 810,926 790,043 658,578 -2.6 -16.6
Total 3,066,970 3,020,763 3,086,172 -1.5 2.2

Note: Excludes capital outlays. Includes expenses budgeted by Federal Reserve Information Technology (FRIT) and the Office of Employee Benefits (OEB). Components may not sum to totals and may not yield percentages shown because of rounding.

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Table D.4 Employment at the Federal Reserve Banks, FRIT, and OEB, by Operational Area, 2008 and 2009
Average number of personnel
Operational area 2008 (budgeted) 2008 (actual) 2009 (budgeted) Change
2008 actual compared with 2008 budgeted 2009 budgeted compared with 2008 actual
Monetary and economic policy 1,018 1,010 1,067 -8 57
Services to the U.S.
  Treasury and other
  government agencies		 1,246 1,184 1,140 -62 -44
Services to financial
  institutions and the
  public		 2,542 2,477 2,517 -66 40
Supervision and regulation 2,673 2,674 2,785 1 111
Fee-based services to
  financial institutions		 2,155 1,936 1,033 -219 -903
Support and overhead 9,621 9,468 9,478 -154 11
Total 19,255 18,747 18,020 -508 -727

Note: Components may not sum to totals and may not yield variances shown because of rounding.

FRIT, Federal Reserve Information Technology; OEB, Office of Employee Benefits.

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Table D.5 Expenses of the Federal Reserve Banks for Salaries of Officers and Employees, by District, 2008 and 2009
Thouands of dollars, except as noted
District 2008 (budgeted) 2008 (actual) 2009 (budgeted) Percent change
2008 actual compared with 2008 budgeted 2009 budgeted compared with 2008 actual
Boston 81,081 77,869 78,925 -4.0 1.4
New York 290,068 294,537 325,011 1.5 10.3
Philadelphia 70,018 68,500 71,544 -2.2 4.4
Cleveland 90,268 86,987 85,802 -3.6 -1.4
Richmond 119,432 116,117 119,514 -2.8 2.9
Atlanta 130,154 129,229 130,786 -0.7 1.2
Chicago 108,595 104,910 111,039 -3.4 5.8
St. Louis 73,310 71,378 73,757 -2.6 3.3
Minneapolis 74,819 72,757 73,570 -2.8 1.1
Kansas City 89,354 87,847 87,848 -1.7 0.0
Dallas 81,949 80,516 83,535 -1.7 3.7
San Francisco 142,469 139,621 146,594 -2.0 5.0
Total, all Districts 1,351,515 1,330,267 1,387,925 -1.6 4.3
Federal Reserve
  Information
  Technology
  (FRIT		 77,844 78,760 83,826 1.2 6.4
Office of
  Employee
  Benefits		 5,028 5,074 5,558 0.9 9.6
Total 1,434,387 1,414,101 1,477,309 -1.4 4.5

Note: Components may not sum to totals and may not yield percentages shown because of rounding.

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Table D.6 Capital Outlays of the Federal Reserve Banks, by District, and of FRIT and OEB, 2008 and 2009
Thousands of dollars, except as noted
District 2008 (budgeted) 2008 (actual) 2009 (budgeted) Percent change
2008 actual compared with 2008 budgeted 2009 budgeted compared with 2008 actual
Boston 28,439 21,441 27,241 -24.6 27.0
New York 138,452 47,390 154,713 -65.8 226.5
Philadelphia 22,615 12,598 21,648 -44.3 71.8
Cleveland 24,817 12,042 11,669 -51.5 -3.1
Richmond 69,707 63,352 32,224 -9.1 -49.1
Atlanta 22,889 10,668 36,735 -53.4 244.3
Chicago 23,768 18,858 23,259 -20.7 23.3
St. Louis 33,298 26,525 21,507 -20.3 -18.9
Minneapolis 7,008 7,465 10,444 6.5 39.9
Kansas City 16,193 21,297 7,152 31.5 -66.4
Dallas 25,776 8,722 29,729 -66.2 240.8
San Francisco 56,691 33,871 62,239 -40.3 83.8
Total, all Districts 469,654 284,229 438,560 -39.5 54.3
Federal Reserve
  Information
  Technology
  (FRIT)		 64,908 35,920 79,758 -44.7 122.0
Office of
  Employee
  Benefits (OEB)		 0 262 1,050 … 300.5
Total 534,562 320,411 519,368 -40.1 62.1

Note: Components may not sum to totals and may not yield percentages shown because of rounding.

… Not applicable. Return to table

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Table D.7 Capital Outlays of the Federal Reserve Banks, FRIT, and OEB, by Asset Classification, 2008 and 2009
Thousands of dollars, except as noted
Asset classification 2008 (budgeted) 2008 (actual) 2009 (budgeted) Percent change
2008 actual compared with 2008 budgeted 2009 budgeted compared with 2008 actual
Equipment 153,252 77,587 150,235 -49.4 93.6
Furniture,
  furnishings,
  and fixtures		 24,725 16,351 24,789 -33.9 51.6
Land and other
  real estate		 9,197 3,873 4,415 -57.9 14.0
Building 203,431 129,708 147,069 -36.2 13.4
Building
  machinery
  and equipment		 41,134 21,706 45,002 -47.2 107.3
Leasehold
  improvements		 370 3,180 3,065 759.5 -3.6
Software 101,761 67,080 143,988 -34.1 114.7
Art 692 926 805 33.8 -13.1
Total 534,562 320,411 519,368 -40.1 62.1

Note: Components may not sum to totals and may not yield percentages shown because of rounding.

FRIT, Federal Reserve Information Technology; OEB, Office of Employee Benefits.

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