'•9fe-«s*!^-\, ' PUBLIC LAW 105-244 —OCT. 7, 1998 112 STAT. 1607 action steps necessary to achieve such goals. The plan shall address the PBO's responsibilities in the following areas: "(i) IMPROVING SERVICE.— Improving service to students and other participants in student financial aid programs authorized under this title, including making those programs more understandable to students and their parents. "(ii) REDUCING COSTS.— Reducing the costs of administering those programs. "(iii) IMPROVEMENT AND INTEGRATION OF SUPPORT SYSTEMS.— Improving and integrating the information and delivery systems that suppoirt those programs. "(iv) DELIVERY AND INI-ORMATION SYSTEM. — Developing an open, common, and integrated delivery and information system for programs authorized under this title. "(v) OTHER AREAS.— Any other areas identified by the Secretary.
- (2) ANNUAL REPORT. — Each year, the Chief Operating
Officer shall prepare and submit to Congress, through the Secretary, an annual report on the performance of the PBO, including an evaluation of the extent to which the PBO met the goals and objectives contained in the 5-year performance plan described in paragraph (1) for the preceding year. The annual report shall include the following: "(A) An independent financial audit of the expenditures of both the PBO and programs administered by the PBO. "(B) Financial and performance requirements applicable to the PBO under the Chief Financial Officer Act of 1990 and the Government Performance and Results Act of 1993. "(C) The results achieved by the PBO during the year relative to the goals established in the organization's performance plan. "(D) The evaluation rating of the performance of the Chief Operating Officer and senior managers under subsections (d)(4) and (e)(2), including the amounts of bonus compensation awarded to these individuals. "(E) Recommendations for legislative and regulatory changes to improve service to students and their families, and to improve program efficiency and integrity. "(F) Other such information as the Director of the Office of Management and Budget shall prescribe for performance based organizations. "(3) CONSULTATION WITH STAKEHOLDERS.—The Chief Operating Officer, in preparing the report described in paragraph (2), shall establish appropriate means to consult with borrowers, institutions, lenders, guaranty agencies, secondary markets, and others involved in the delivery system of student aid under this title— "(A) regarding the degree of satisfaction with the delivery system; and "(B) to seek suggestions on means to improve the delivery system. " (d) CHIEF OPERATING OFFICER.—
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