What is this plan, and how do I use it?
The Government Performance and Results Act Modernization Act of 2010 (GPRAMA) requires federal agencies to publish new strategic plans one year after each presidential inauguration. Treasury’s Strategic Plan for Fiscal Years (FY) 2022–2026 describes long-term goals the agency aims to achieve during this administration.
We organized it into three main parts: Agency and Mission, Strategic Goals and Objectives, and Accountability Processes. This is how different audiences can use the Strategic Plan:
|Treasury Employees||Treasury Leaders||External Stakeholders and Customers, including the American Public and other Federal agencies|
|Use as a roadmap to prioritize your work and monitor progress in the context of the Department's priorities||Use as an internal decision-making guide to align resources, prioritize activities, and monitor the progress and contributions of your organization in achieving the Department's strategic priorities.||Use to understand Treasury's priorities, how we will measure success, and potential areas of partnership.|
Within the strategic plan, “goals” articulate broad societal impacts that Treasury aims to achieve, while “strategic objectives” support goals and reflect more focused policy or operational areas where we plan to make significant improvements. Accountable officials are designated for each goal and strategic objective and are responsible for overseeing and monitoring progress towards achieving strategic objectives and goals, coordinating with internal and external stakeholders to execute goals and strategic objectives, and delivering status updates and progress reports regularly. Each Strategic Objective within this document has a consistent layout and components vital to making this a useful guide for decision-making.
Learning Agenda and Evidence-building Capacity Assessment
Consistent with the expectations outlined in the Foundations for Evidence-based Policymaking Act of 2018 (Evidence Act), Treasury continues its commitment to incorporate data and evidence into Departmental decision-making. For this Strategic Plan, the Department identified a set of research questions that were most pertinent to the new group of strategic objectives. Called a “Learning Agenda,” this set of research questions outlines the activities that Treasury aims to undertake during the next four years to build evidence in these priority areas. Treasury also developed an assessment (Capacity Assessment) to better understand the Department's ability to build and use evidence. For the full Learning Agenda questions and Capacity Assessment results, see page 49 and the Appendix.
Elements of a Strategic Objective
This page will help readers navigate the Strategic Plan by identifying the elements of a strategic objective.
- Objective Short Name and Statement provides the scope of the objective and identifies the specific, measurable, and achievable change the Department aims to make.
- Who’s Involved identifies the lead and supporting Treasury organizations that are responsible for implementing the strategic objective. It also identifies the external partners Treasury intends to collaborate with and the customers Treasury will serve in implementing the objective.
- Why Does This Matter? makes the case for why Treasury should focus attention on this issue. It describes the scope of the problem, its impact on the American public, Treasury’s proposed solutions and role in solving the problem, and the risk if Treasury does not act.
- Desired Outcomes describes how the Department defines success for the objective. It lists what measures or indicators the Department will internally monitor or externally report to understand whether Treasury is making progress in achieving the strategic objective.
- Cross-cutting themes are priorities for the administration that impact multiple goals and objectives.
- Strategies identify the specific approaches Treasury bureaus and offices will take to achieve and track progress towards the strategic objective.
- Learning Agenda Questions are research questions that Treasury aims to answer to better understand the subject area and improve the effectiveness and impact of its key programs, policies, and strategies. These questions are further discussed in Treasury’s full Learning Agenda, an Appendix to this plan.
- Critical Management Initiatives are specific priority human capital, data, and information technology (IT) initiatives that the Department needs to implement to effectively execute the identified strategic objectives. These initiatives help drive management priorities, inform enterprise IT, data, and Human Capital plans, and enhance Treasury’s capacity for evidence-building activities supporting the Department’s priorities.