The Strategic Plan presents the long-term objectives an agency hopes to accomplish at the beginning of each new term of a presidential administration by describing general and long-term goals the agency aims to achieve, what actions the agency will take to realize those goals, and how the agency will deal with challenges and risks that may hinder achieving results. The Strategic Plan will define the agency mission, long-term goals, strategies planned, and the approaches it will use to monitor its progress in addressing specific national problems, needs, challenges, and opportunities related to its mission. The Strategic Plan explains the importance of the goals, appraises the agency’s capabilities, assesses the operating environment and provides for evaluations and other studies to inform agency actions. For more information on Strategic Plans, see OMB Circular A-11 Section 230.
In accordance with requirements of the White House Office of Management and Budget, the Board also produces an annual Performance and Accountability Report (PAR), which provides information regarding the agency’s performance, management, and finances. The PAR enables the President, Congress, and the public to assess the Board’s activities and accomplishments relative to its mission and the resources entrusted to it. The PAR also describes the specific performance goals and strategies the Board will take in future years, based on its Strategic Plan, and reports the agency’s achievements of those performance goals. Since FY 2018, the PAR also serves as the STB’s annual report on its activities. For more information on PARs, see OMB Circular A-136.