AUDIT OF RTC MORTGAGE TRUST 1995-SN1

February 12, 2001Audit Report No. 01-006Audit of the FDIC’s ApplicationMaintenance BudgetsTABLE OF CONTENTSBACKGROUND 1OBJECTIVES, SCOPE, AND METHODOLOGY 3RESULTS OF AUDIT 4PROPERLY CATEGORIZING MAINTENANCE ANDNON-MAINTENANCE EXPENDITURES WILL ENHANCE THEACCURACY OF INFORMATION TECHNOLOGY COST DATA 5Recommendation 7BETTER DEFINING APPLICATION MAINTENANCE WILLSTRENGTHEN INFORMATION TECHNOLOGY BUDGETINGAND REPORTING 7Recommendations 9FOCUSING ON KEY APPLICATION MAINTENANCECOMPONENTS WILL PROVIDE SENIOR DIRMMANAGEMENT VALUABLE DECISION-MAKINGINFORMATION 9Recommendation 11CORPORATION COMMENTS AND OIG EVALUATION 11FIGURESFigure 1: Portion of FDIC’s Budget Related to IT 2Figure 2: Portion of IT Budget Related to Maintenance 2APPENDIX I – CORPORATION COMMENTS 13APPENDIX II – MANAGEMENT RESPONSES TO RECOMMENDATIONS 17 Federal Deposit Insurance Corporation Office of Audits Washington, D.C. 20434 Office of Inspector GeneralDATE: February 12, 2001TO: Donald C. Demitros, Chief Information Officer andDirector, Division of Information Resources ManagementFROM: David H. LoewensteinAssistant Inspector GeneralSUBJECT: Audit of the FDIC’s Application Maintenance Budgets(Audit Report No. 01-006)The Federal Deposit Insurance Corporation (FDIC) Office of Inspector General (OIG) hascompleted an audit of the FDIC’s ...