The FY 2012 Budget Request
This budget requests an appropriation of $308,000,000 and 983 staff-years. The FY 2012 budget request builds on the FY 2011 Continuing Resolution appropriation of $168,800,000 and 667 FTE for pre–Dodd-Frank authorities. No funds are included in the FY 2011 Continuing Resolution budget to implement the Dodd-Frank authorities. The following tables provide a summary of staff required to carry out pre-Dodd Frank authorities and provides the incremental staff estimates required to implement Dodd-Frank.
| Division /Office | End of FY 10 On-board Count |
Estimated End of FY 11 FTE Usage (Under a FY 11 CR Budget) |
Total Increase Required for Pre-Dodd Frank |
FY 12 President’s Budget for Pre-Dodd-Frank Authorities |
|---|---|---|---|---|
| Market Oversight | 143 | 139 | 29 | 168 |
| Enforcement | 170 | 167 | 33 | 200 |
| Clearing and Intermediary Oversight | 122 | 122 | 0 | 122 |
| Proceedings | 11 | 10 | 0 | 10 |
| General Counsel | 52 | 50 | 0 | 50 |
| Chief Economist | 18 | 14 | 3 | 17 |
| International Affairs | 9 | 9 | 1 | 10 |
| Agency Direction | 32 | 31 | 7 | 38 |
| Administrative Management and Support | 62 | 64 | 4 | 68 |
| Information Technology | 61 | 61 | 1 | 62 |
| CFTC Total | 680 | 667 | 78 | 745 |
The Commission ended FY 2010 with 680 staff on-board and estimates that under a year-long Continuing Resolution in FY 2011 the Commission will use 667 FTE in FY 2011. The CFTC also estimates that a level of 745 FTE are required into FY 2012 for pre-Dodd-Frank authorities. This includes the on-going comprehensive oversight of futures commission merchants (FCMs), futures exchanges, futures clearinghouses and other registrants.
| Division /Office | FY 11 Continuing Resolution Budget |
FY 12
President’s Budget for Dodd-Frank Authorities |
FY 12 Total FTE
for Previous and New Dodd-Frank Authorities (745+238) |
FY 13 OMB Estimated
of Additional Staff Requirements (Approved but Deferred to FY 2013) |
FY 13 Total FTE for Previous and New Dodd-Frank Authorities (983+160) |
|---|---|---|---|---|---|
| Market Oversight | 0 | 82 | 250 | 27 | 277 |
| Enforcement | 0 | 35 | 235 | 31 | 266 |
| Clearing and Intermediary Oversight | 0 | 60 | 182 | 70 | 252 |
| Proceedings | 0 | 0 | 10 | 0 | 10 |
| General Counsel | 0 | 20 | 70 | 0 | 70 |
| Chief Economist | 0 | 3 | 20 | 1 | 21 |
| International Affairs | 0 | 3 | 13 | 2 | 15 |
| Agency Direction | 0 | 0 | 38 | 1 | 39 |
| Administrative Management and Support | 0 | 5 | 73 | 22 | 95 |
| Information Technology | 0 | 30 | 92 | 6 | 98 |
| CFTC Total | 0 | 238 | 983 | 160 | 1143 |
The President’s FY 2011 Continuing Resolution Budget provided no additional positions for Dodd-Frank. The FY 2012 President’s Budget provides funding for an additional 238 staff to implement Dodd-Frank. The Commission estimates and OMB concurs that approximately 398 additional staff are required to implement Dodd-Frank authorities. OMB has provided for 238 of these positions in the FY 2012 President’s Budget and acknowledged the need for another 160 FTE in FY 2013. OMB allocated the total increase estimated over two fiscal years in recognition of the challenge of on-boarding more than 400 employees in a 12 month period.
The supporting justification in the Executive Summary addresses the total staff requirement of 476 FTE ─ 316 in FY 2012 (78 for pre-Dodd Frank and 238 for Dodd-Frank) and 160 in FY 2013. The detailed budget justification tables, beginning on page 25, and following the Executive Summary reference the net increase of 78 FTE for pre-Dodd Frank and 238 FTE for Dodd-Frank to conform to OMB guidance requiring the FY 2012 President’s Budget request to be displayed as an increment over the FY 2011 appropriation.